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US-64 Repurchase - Nuts and bolts

We own US-64 units in different folios and in names of different family members. I am looking for a way, through which I get maximum coverage under the guaranteed repurchase price offer.

I have the following holdings in US 64 in the name of my family members and all the units were purchased before June 2001.
i. Rahul Bhatia & Manisha Bhatia 9000 units
ii. Bhatia Rahul 3500 units
iii. Manisha Bhatia 700 units
iv. Dinesh Bhatia & Anjali Bhatia 11000 units
v. Manisha Bhatia & Dinesh Bhatia 1500 units

I'm looking for a way, through which I can cover maximum units under the 5000 units' package, which can be redeemed at predetermined price. Is any of the following possible?
1. Repurchase some units in second joint name (all units are under either or survivor option).
2. Repurchase some units on a different address.
3. Repurchase of units with a timing difference (as above holdings are in form of several certificates & all are having different folio number).
4. Repurchase of units under separate form for units under Rahul Bhatia & Bhatia Rahul.
5. Gift some of the units' to some other person.
-- Dinesh Bhatia on e-mail


Let me explain the rules followed by UTI to redeem Unit '64.

The guaranteed repurchase price for the first 5000 units in each folio is Rs 11.20 in September 2002. This will rise by 10 paise every month to reach Rs 12 in May 2003. For above 5000 units per folio, you can redeem at NAV, which is Rs 5.92 as on August 28. However, if you wait till May 2003, you can realise Rs 10 per unit or the NAV, whichever is higher. These rules apply only for unit holders whose name appears on the books of UTI as of June 30, 2001.

UTI treats the first applicant and the address in each folio to determine unique unit holders eligible for the special repurchase offer.

This makes it difficult to dodge UTI. But, you are entitled for the guaranteed repurchase price in a number of folios, which you can redeem now. For the rest you can wait till May '03 to realise Rs. 10 per unit.

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